VAUGHAN, ON, Feb. 7, 2020 /CNW/ - MAV Beauty
Brands Inc. ("MAV Beauty Brands" or the "Company") (TSX:MAV), a
global personal care company, today announced that as part of a new
streamlined organizational reporting structure, Tim Bunch has been appointed as President and
Chief Executive Officer of the Company. Marc Anthony Venere will continue to serve as a
director.
"Marc Anthony is an amazing
entrepreneur and for 25 years, has led the growth of this business
from one salon to the leading independent haircare company it is
today", said Chris Elshaw, Chair of
the Company's Board of Directors. "Since becoming a public company,
we have strengthened our leadership team with key appointments of
seasoned executives and, following the recent acquisition of The
Mane Choice, we streamlined our organizational reporting structure
to best support our brand portfolio and gain efficiencies. While
Marc Anthony will no longer have
day-to-day management responsibilities, he is committed to
supporting the executive team under Tim's leadership."
"I am deeply committed to the Company's long-term success,
including by maintaining a significant equity interest," said
Marc Anthony Venere, the Company's
Founder. "I believe the Company's fundamentals and brands are
strong, and the MAV management team can drive results that reflect
the business' full potential."
"Since joining MAV Beauty Brands in 2017, Tim has played a key
role in the organization and most recently took on an expanded role
as President," Mr. Elshaw added. "The Board would like to thank
Marc Anthony for his invaluable
contributions and congratulate Tim on his appointment as Chief
Executive Officer."
About MAV Beauty Brands
MAV Beauty Brands is a global personal care company dedicated to
providing consumers with premium quality, authentic and
differentiated products. Our innovation-focused, next generation
platform consists of complementary and growing personal care
brands: Marc Anthony True Professional, Renpure, Cake Beauty and
The Mane Choice. Our products include a wide variety of hair care,
body care and beauty products such as shampoo, conditioner, hair
styling products, treatments, body wash, and body and hand lotion
across multiple collections that each serve a different and
personalized consumer need. Our products are sold in over 35
countries around the world, in over 100 major retailers and through
over 60,000 doors.
Forward-Looking Information
Certain information in this press release, including statements
relating to the benefits of the Company's organization reporting
structure and executive transition constitutes forward-looking
information. In some cases, but not necessarily in all cases,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "targets", "expects"
or "does not expect", "is expected", "an opportunity exists", "is
positioned", "estimates", "intends", "assumes", "anticipates" or
"does not anticipate" or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might", "will" or "will be taken", "occur" or
"be achieved". In addition, any statements that refer to
expectations, projections or other characterizations of future
events or circumstances contain forward-looking information.
Statements containing forward-looking information are not
historical facts but instead represent management's expectations,
estimates and projections regarding future events.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by MAV Beauty Brands as of the date of this press
release, are subject to known and unknown risks, uncertainties,
assumptions and other factors that may cause the actual results,
level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to the factors described in
greater detail in the "Risk Factors" section of the Company's
Annual Information Form dated March 28,
2019 for the year ended December 31,
2018 and the Company's other periodic filings available at
www.sedar.com. These factors are not intended to represent a
complete list of the factors that could affect MAV Beauty Brands;
however, these factors should be considered carefully. There can be
no assurance that such estimates and assumptions will prove to be
correct. The forward-looking statements contained in this press
release are made as of the date of this press release, and MAV
Beauty Brands expressly disclaims any obligation to update or alter
statements containing any forward-looking information, or the
factors or assumptions underlying them, whether as a result of new
information, future events or otherwise, except as required by
law.
SOURCE MAV Beauty Brands Inc.
